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ASSIGNMENT OF RENTS � Q i O U"� �i ��
<br />Loan No: 340832Q144 (Contlnued) Page 2
<br />Unless and untii lender exercises its right to collect the Rents as provided 6elow and so long as there is no default under this Assignment,
<br />Grantor may remain in possassion snd control of and operate and manage the Property and collect the Rants, prnvided that the granting of
<br />the right ta epllept the Rents shall not constitute Lender's consent to the use of cash collateral in a benkruptcy proceeding.
<br />GRANTpR'S REPRESENTAI'IONS AMq WAiiRAN71ES. Grantor warrants that:
<br />Ownership. Grantar is entitlad to receive the Rents free and clear of all rights, loans, liens, encumbrances, and claims except as
<br />disclosed to and accepted by Lender in writing.
<br />Right to Assign. Grantar has the full right, power and authnrity to anter intp this Assignment and to assign and convey the Rents to
<br />Lender.
<br />No Prior Assignment. Grantor has not previously assigned or conveyed the Rents to any other person by any instrument now in force.
<br />No Further Transfer. Grantor will not sell, assign, encumber, or otherwise dispose of any of Grantar's rights in the Rants except as
<br />prpvidad in this Assignment.
<br />I.ENp�Fi'S �tIGHT 'C� RECEIVE AND COLLECT RENTS. Lender shall have the right at any time, and even though no default shall have
<br />occurred under this Assignment, to collect and receive the Rents. For this purpose, Lender is heraby givan and granted the following
<br />rights, powers and authority:
<br />Notice to Yenants. Lender may send no[ices to any and all tenants of the Property advising them ot this Assignment and directing all
<br />Rents to be paid directly to Lender or Lender's agent.
<br />Enter the Property. Lender may enter upon and take possession of the Property; demand, collect and reoeive from the tenants or from
<br />any ather parspns liable tharefpr, ali pf the Rents; institute and carry on all legal prpcaedings nepes8ary for the pratection of the
<br />Property, including such proceedings as may be nacessary to recover possession nf the Property; collect the Rents and remove any
<br />tenant or tenants or other persons from the Property.
<br />Maintain #he Prqperty. Lender may anter upan the Property to maintain the Property and kesp the same in repair; to pay the costs
<br />thereof and of all sarvices of all employees, including their equipment, and of all continuing casts and expenses of main[aining [he
<br />Property in proper repair and condition, and also tn pay all texes, assessments and water utilities, and the premiums on fire and other
<br />insurance effected by Lender on the Property.
<br />Compliance with Laws. Lender may do any and all things to execute and camply with the laws of the State of Nebraska and also all
<br />other laws, rules, orders, ordinances end requirements of �II other governmental agencies affecting the Property.
<br />Lease the Property. L.ender may rent or lease the whole or any part of the Property for such term or terms and on such conditions as
<br />Lender may deem appropriate.
<br />Employ Agants. Lender may angage such agent or agents as Lender may deem appropriate, either in Lender's name or in Grantor's
<br />name, to rent and manage the Prnperty, including the collection and applicatian of Rents.
<br />Other Acts. Lender may do all such other things and acts with respect to the Property as Lendar may deem appropriate and may act
<br />exclusively and solely in the place and stead of Grantar and to have all of ths powers of Grantor for the purposes stated above.
<br />No Requirement to Act. Lender shall not be required to do any of the foregoing acts or things, and tha fact that Lender shall have
<br />performed nne or more of the fpregoing apts or things shall not require Lender to do any other specific act or thing.
<br />APPLICATION OF R�N7S. All costs and expenses incurred by Lender in connection with the Property shall be for Grantor's account and
<br />Lender may pay such casts and expenses from the Rents. Lender, in its sole discretion, shall determine ths application pt any and all Rents
<br />received by it; hpwever, any such Rents received by Lender which are not applied to such costs and expenses shall ba applied to the
<br />Indebtedness. All expenditures made 6y Lender under this Assignment and not reimbursed from the Rents shall become a part of the
<br />Indebtedness secured by this Assignment, end shall be paysble pn demand, with interest at the Note rate from date of expenditure until
<br />paid.
<br />FULL PERFQRMANCE. If Grantor pays all of the Indebtedness when due and otherwise perfprms all the obligations imposed upon Grantor
<br />under this Assignment, the Nate, and the Ralated Documents, Lender shall execute and deliver to Grantor a suitable satisfaction of this
<br />Assignment and suitable statements of terminatipn of any financing statement on file evidencing Lender's security interest in the Rents and
<br />the Property. Any terminetion fee required by law shall be paid by Grantor, if permitted 6y applicable law.
<br />LENDER'S EXPENDITURES. If any action vr procseding is commenced that would materially affect Lender's interest in the Property or if
<br />Grantor fails tn comply with any provisinn of this Assignment or any Related Documents, including but not limited ta Grantor's failure tn
<br />discharge or pay when due any amounts Grantor is required to discharge or pay under this Assignment ar any Related Documents, Lender
<br />on Grantor's behalf may (but shall not be obligated to) take any action that Lender deems apprppriate, including but not limited to
<br />discharging or paying all taxss, liens, security interests, encumbrances and ather claims, at any time levied or placed on the Rents or the
<br />Property and paying all costs for insuring, maintaining and preserving the Property. All such expenditures incurred or paid by Lender for
<br />such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment
<br />qy Grantor. All such expenses will become a part of the Indebtedness and, at Lender's option, will (A) be payable on demand; (B) be
<br />edded to tha balance of the Note and be apportioned among and be payable with any installment payments to become due during either
<br />(1) the term qf any applicable insuranca pnlicy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will
<br />be due and payable at tha Note's maturity. 7he Assignment also will secure psyment ot these amounts. 5uch right shall be in addition to
<br />all other rights and remedies to which Lender may be entitled upon �efault.
<br />DEFAULT. Each of the follawing, at Lender's option, shall constitute an Event of �efault under this Assignment:
<br />Peyment Defaul#. Borrower fails ta make any paymen# when due under the Indebtedness.
<br />Qther Delaults. Borrower or Grantnr fails ta eqmply with or to perform any other term, obligation, covpnant or condition contained in
<br />this Assignment or in any af the Related Dpcuments or to cpmply with or to perform any term, obligation, covenant or condition
<br />contained in any other agreement between Lender and Borrower or Grantor.
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